KOSPI and Nikkei tumble on oil price surge and anxiety over prolonged war
2026.03.30 09:59
SEOUL, March 30 (AJP) — South Korean and Japanese stocks plunged more than 4 percent at the open Monday as oil prices surged on Yemen’s Houthi rebels entering the Iran conflict stoked fears of a broader and prolonged war.
May futures for international benchmark Brent crude rose 2.92 percent to $115.86 per barrel during early Asia hours, while U.S. West Texas Intermediate futures were 3.20 percent higher at $102.80 per barrel.
Reports that China-linked vessels were forced to turn back from the strait underscored growing supply risks, while speculation over potential U.S. ground operations added to escalation concerns.
As of 9:11 a.m., the benchmark KOSPI fell 4.48 percent to 5,195.19, while the tech-heavy KOSDAQ dropped 3.71 percent to 1,099.13. Japan’s Nikkei 225 also slid 4.74 percent in early trading.
Investor sentiment was further dented by falling U.S. stock futures, as global markets extended a risk-off shift driven by rising energy prices and geopolitical uncertainty.
The widening conflict — now entering its second month — is increasingly being priced not as a short-term shock but as a sustained supply disruption. Analysts warn that further escalation, including ground operations or expanded regional involvement, could deepen the energy crisis and prolong market volatility.
Institutional selling intensified in Seoul, with heavy liquidation in chipmakers amid fresh concerns over demand outlook. Sentiment was also pressured by hype surrounding Google’s “TurboQuant,” an AI technology that some believe could reduce memory intensity, and reports that AI firm Anthropic is testing a more advanced model, Claude Mythos.
The dollar spiked, hitting 1,512.80 won as foreign stock pullout continued.
Large-cap stocks moved broadly lower.
Samsung Electronics fell 3.78 percent to 172,900 won, while SK hynix dropped 5.31 percent to 873,000 won.
Automakers also came under pressure, with Hyundai Motor down 5.66 percent and Kia losing 5.26 percent. Hyundai Mobis slipped 4.53 percent.
Battery makers edged lower, with LG Energy Solution falling 1.52 percent and Samsung SDI down 2.22 percent.
Biopharmaceutical and internet stocks weakened, with Samsung Biologics declining 4.17 percent, Celltrion dropping 3.20 percent and Naver falling 3.53 percent.
Defense and heavy industry shares were also broadly lower, with Hanwha Aerospace down 4.72 percent, Hanwha Ocean falling 5.44 percent and HD Hyundai Heavy Industries plunging 6.72 percent.
Financial stocks followed suit. KB Financial Group fell 4.34 percent, Shinhan Financial Group dropped 3.85 percent, Samsung Life Insurance lost 2.69 percent and Mirae Asset Securities slid 6.56 percent.
Ryu Yuna Reporter Julia37@ajupress.com
May futures for international benchmark Brent crude rose 2.92 percent to $115.86 per barrel during early Asia hours, while U.S. West Texas Intermediate futures were 3.20 percent higher at $102.80 per barrel.
Reports that China-linked vessels were forced to turn back from the strait underscored growing supply risks, while speculation over potential U.S. ground operations added to escalation concerns.
As of 9:11 a.m., the benchmark KOSPI fell 4.48 percent to 5,195.19, while the tech-heavy KOSDAQ dropped 3.71 percent to 1,099.13. Japan’s Nikkei 225 also slid 4.74 percent in early trading.
Investor sentiment was further dented by falling U.S. stock futures, as global markets extended a risk-off shift driven by rising energy prices and geopolitical uncertainty.
The widening conflict — now entering its second month — is increasingly being priced not as a short-term shock but as a sustained supply disruption. Analysts warn that further escalation, including ground operations or expanded regional involvement, could deepen the energy crisis and prolong market volatility.
Institutional selling intensified in Seoul, with heavy liquidation in chipmakers amid fresh concerns over demand outlook. Sentiment was also pressured by hype surrounding Google’s “TurboQuant,” an AI technology that some believe could reduce memory intensity, and reports that AI firm Anthropic is testing a more advanced model, Claude Mythos.
The dollar spiked, hitting 1,512.80 won as foreign stock pullout continued.
Large-cap stocks moved broadly lower.
Samsung Electronics fell 3.78 percent to 172,900 won, while SK hynix dropped 5.31 percent to 873,000 won.
Automakers also came under pressure, with Hyundai Motor down 5.66 percent and Kia losing 5.26 percent. Hyundai Mobis slipped 4.53 percent.
Battery makers edged lower, with LG Energy Solution falling 1.52 percent and Samsung SDI down 2.22 percent.
Biopharmaceutical and internet stocks weakened, with Samsung Biologics declining 4.17 percent, Celltrion dropping 3.20 percent and Naver falling 3.53 percent.
Defense and heavy industry shares were also broadly lower, with Hanwha Aerospace down 4.72 percent, Hanwha Ocean falling 5.44 percent and HD Hyundai Heavy Industries plunging 6.72 percent.
Financial stocks followed suit. KB Financial Group fell 4.34 percent, Shinhan Financial Group dropped 3.85 percent, Samsung Life Insurance lost 2.69 percent and Mirae Asset Securities slid 6.56 percent.
Ryu Yuna Reporter Julia37@ajupress.com
★관련기사
Asian stocks drift lower as Iran conflict drags on, AI memory jitters weigh
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